The company said it entered into a Separation Agreement with Aaron Karczmer, its Executive Vice President and Chief Enterprise Services Officer, on February 7, 2024, and that he will leave the company on April 30, 2024.

1. 01

   The company said it entered into a Separation Agreement with Aaron Karczmer, its Executive Vice President and Chief Enterprise Services Officer, on February 7, 2024, and that he will leave the company on April 30, 2024.

2. 02

   PayPal said Karczmer's departure qualifies him for severance pay, AIP bonus treatment, health benefits, equity award treatment and outplacement services as a Qualifying Termination.

3. 03

   The company said the treatment follows the Executive Vice President section of the Executive Change in Control and Severance Plan, under subsection b., and that the Plan was filed as Exhibit 10.05 to the Form 10-K on February 8, 2024.

4. 04

   The company said the agreement provides severance pay, a pro-rata AIP bonus for fiscal 2024, benefits and equity award treatment under Appendix A of the Plan, in exchange for a release of claims, compliance with restrictive covenants and other consideration.

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